Independence Gold (CVE:IGO) Shares Up 12.9% – Still a Buy?

Shares of Independence Gold Corp. (CVE:IGO) rose 12.9% on Friday . The company traded as high as C$0.17 and last traded at C$0.17. Approximately 703,251 shares were traded during mid-day trading, an increase of 82% from the average session volume of 386,278 shares. The stock had previously closed at C$0.15.

Independence Gold Price Performance

The firm has a market capitalization of C$46.19 million, a PE ratio of -5.83 and a beta of 0.29. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.52 and a quick ratio of 0.38. The firm has a 50-day simple moving average of C$0.12 and a 200-day simple moving average of C$0.11.

Insider Buying and Selling at Independence Gold

In other Independence Gold news, insider Gestion Bouca Inc acquired 1,780,000 shares of the company’s stock in a transaction that occurred on Saturday, June 27th. The shares were bought at an average price of C$0.10 per share, with a total value of C$178,000.00. Following the completion of the acquisition, the insider owned 31,771,000 shares in the company, valued at C$3,177,100. This represents a 5.94% increase in their position. In the last quarter, insiders have purchased 8,295,184 shares of company stock valued at $917,741. 12.50% of the stock is owned by corporate insiders.

About Independence Gold

Independence Gold Corp. engages in the acquisition, exploration, and evaluation of precious metal properties in Canada and North America. It explores for gold and silver deposits. The company holds 100% interest in the 3Ts Project comprising six claim groups and consist of seventy mineral claims covering an approximately 8,840 hectares located in the Nechako Plateau region of central British Columbia; and the Laidman Project comprising six mineral tenures covering an approximately 10,800 hectares located in the British Columbia.